According to Wojnarowski, Hansen, Steve Ballmer and company would pay approximately $500 million for the Kings and would be looking to move them here for the 2013-2014 season. They would play in KeyArena for two years while the new arena was constructed.

The Maloofs are finalizing an agreement to sell the Sacramento Kings to the Hansen-Ballmer led Seattle group, sources tell Yahoo! Sports.— Adrian Wojnarowski (@WojYahooNBA) January 9, 2013

The deal isn’t done yet, but obviously this is potentially a huge day for sports fans in the area.